Ancora Advisors LLC Increases Stake in Biogen Inc (BIIB)

Ancora Advisors LLC lifted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,496 shares of the biotechnology company’s stock after buying an additional 125 shares during the period. Ancora Advisors LLC’s holdings in Biogen were worth $1,653,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its position in Biogen by 27,620.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 14,257,427 shares during the last quarter. Capital World Investors boosted its position in Biogen by 503.2% in the third quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock worth $873,986,000 after purchasing an additional 2,063,598 shares during the last quarter. Renaissance Technologies LLC boosted its position in Biogen by 163.2% in the third quarter. Renaissance Technologies LLC now owns 846,075 shares of the biotechnology company’s stock worth $298,927,000 after purchasing an additional 524,575 shares during the last quarter. Prudential Financial Inc. boosted its position in Biogen by 158.4% in the fourth quarter. Prudential Financial Inc. now owns 689,208 shares of the biotechnology company’s stock worth $207,397,000 after purchasing an additional 422,529 shares during the last quarter. Finally, Putnam Investments LLC boosted its position in Biogen by 279.4% in the third quarter. Putnam Investments LLC now owns 496,498 shares of the biotechnology company’s stock worth $175,418,000 after purchasing an additional 365,621 shares during the last quarter. 89.19% of the stock is currently owned by institutional investors.

In other Biogen news, Director Alexander J. Denner bought 30,000 shares of Biogen stock in a transaction that occurred on Wednesday, January 30th. The stock was acquired at an average cost of $324.86 per share, for a total transaction of $9,745,800.00. Following the completion of the transaction, the director now directly owns 10,909 shares in the company, valued at $3,543,897.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Pangia sold 6,114 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $328.55, for a total value of $2,008,754.70. Following the transaction, the director now owns 24,701 shares of the company’s stock, valued at $8,115,513.55. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Shares of NASDAQ:BIIB traded down $2.13 during midday trading on Monday, reaching $232.37. 1,521,190 shares of the company traded hands, compared to its average volume of 2,063,774. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.04 and a current ratio of 2.32. Biogen Inc has a 12 month low of $216.12 and a 12 month high of $388.67. The firm has a market cap of $46.13 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.91 and a beta of 1.04.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.72 by $0.27. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company posted $5.26 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts predict that Biogen Inc will post 28.81 EPS for the current fiscal year.

Several research analysts have weighed in on BIIB shares. Cantor Fitzgerald reissued a “hold” rating and issued a $250.00 price objective on shares of Biogen in a research report on Wednesday, March 27th. Oppenheimer set a $372.00 price objective on Biogen and gave the stock a “buy” rating in a research report on Friday, January 25th. Guggenheim set a $236.00 price objective on Biogen and gave the stock a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley boosted their target price on Biogen from $394.00 to $401.00 and gave the company an “overweight” rating in a research note on Wednesday, December 19th. Finally, Citigroup boosted their target price on Biogen from $372.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $295.04.

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Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

Further Reading: Outstanding Shares

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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